My professional career falls into three parts:
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Banker: Banking executive manager, investment advisor, treasurer and portfolio manager;
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Academic lecturer;
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Press writer and analyst.
After graduating with a BA in English Literature, I was appointed as a regional representative of a British organization. This job gave me the experience to lead an organization.
After that, I was offered a position with CAC Bank. I took this new challenge as the bank decided to establish its new Islamic banking sector. Initially, I worked as a chairman advisor for investment. I also set up the new treasury, brokerage, and foreign investment departments for both the Islamic and traditional sectors.
Subsequently I was appointed as the executive director for Islamic banking. I am currently the head of Islamic banking in CAC Bank as well as starting my own project, which is a firm for investment and consulting services. It is in the final stage of being inaugurated.
What does your role involve?
Advisory: Setting up the treasury department, foreign investment and financial institutions as well as the CAC brokerage unit, and implementing their workflows and work procedures. In addition, I implemented a training program on Islamic finance including workshops on Sukuk.
Management: I am responsible for managing and establishing the Islamic banking division and training the staff on Islamic investment and banking operations. I also prepared the investment policy and a manual for Islamic investment methods and products.
What is your greatest achievement to date?
It is great to establish and inaugurate a new Islamic branch in a traditional bank. I am also one of the founders of the Yemen Expert Group, a think-tank institute to provide youths and the future state with think-tank strategies and studies. I am also about to publish two books: ‘Foreign Exchange and Money Markets’ and ‘Professional Guide in Islamic investment Products’.
Which of your products/services deliver the best results?
The products are Ijarah (leasing) and Istisnah as most customers need these to finance their projects.
What are the strengths of your business?
It is a government institution. Therefore, many customers would like to get financed by it as other banks in Yemen are family-oriented banks.
What are the factors contributing to the success of your company?
We try to adopt all Islamic financing methods and have established a special unit for Sukuk. We are more flexible than others in our ability to finance individuals, as many government institutions transfer all government staff remunerations to our bank which offers us abundant liquidity.
What are the obstacles faced in running your business today?
We are suffering now from the biggest crisis we have ever experienced. This crisis affects all aspects of our life.
Where do you see the Islamic finance industry in the next five years?
During the last five years, the Islamic banking industry has shown tremendous growth and has increased six-fold which clearly sends a message that Islamic banking is on the right growth path.
Name one thing you would like to see change in the world of Islamic finance.
We need to create a proper standardization of Islamic products and instruments. I also hope that all Islamic banks adopt all Islamic products to create real competition among other traditional banks. We have to set up more Islamic institutes for the capacity building of Islamic banking human resources.